Smart Fleet Management Market worth 462.48 Billion USD by 2022

The report "Smart Fleet Management Market by Transportation (Automotive, Rolling Stock, Marine), Hardware (Tracking, Optimization, ADAS, and Diagnostic), Connectivity (Short, Long, and Cloud), Solution (Tracking and Optimization), and Region - Global Forecast to 2022", The smart fleet management market is projected to grow at a CAGR of 8.0% from 2017 to 2022, to reach USD 462.48 Billion by 2022. Some of the major factors responsible for the growth of the market are government regulations for safety and increase in demand for real-time tracking and fleet monitoring by fleet operators to reduce transportation cost and increase operational efficiency.

Real-time monitoring, geofencing are incorporated in railways, marine transport, and automotive due to the increase in demand for fleet safety and security in transportation of goods and passengers

With adoption of technologies transporter or service provider measure maintenance cost and monitor driver’s behaviour. The fleet management data can also be downloaded to better analyse data and use to make cost effective decision or to enhance safety. For instance, managers can get the data of fuel efficiency based on the route taken. The market for these technologies is growing rapidly and regulatory bodies in Europe and North America are looking forward to mandate some of these technologies.

ADAS Systems: Upcoming mandates in Asia-Pacific to drive the demand

The global smart fleet management market is estimated to be dominated by the ADAS systems during the review period. ADAS systems have higher adaptability in all passenger cars in most of the advanced economies of Europe and North America. Furthermore, Asian region are focused on to mandate safety feature for ADAS systems. These factors make the ADAS systems one of the most prominent technologies in the smart fleet management market.

Asia-Pacific: Largest market for smart fleet management

Asia-Pacific was estimated to be the largest market for smart fleet management market in 2017, owing to the increasing transport facilities in countries such as Japan, China, and India and stringent safety regulations in these countries. Changing government approach towards fleet operators, driver, passenger, and goods safety has imposed many regulations, which mandate transportation OEMs to deliver vehicles with installed safety features. Additionally, smart fleet management market is further driven by the legislations about transport safety, advancement in technology, and increased demand for large ships and vessel containers across the globe.

The report covers all the major players in the global smart fleet management market such as Continental AG (Germany), Denso Corporation (Japan), Robert Bosch GmbH (Germany), and Otto Maritime Limited. (Sigapore) among others.

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